On the evening of November 22, Kaisa Group Holdings issued an announcement on the “Jinheng Wealth Product Redemption Plan” on its official public account.
According to the announcement, Kaisa Group will follow the time sequence of Jinheng Wealth’s product maturity and adopt the method of instalment to redeem the principal and interest one after another.
For the principal of the investor, 10% will be redeemed in the month of maturity, and 10% will be redeemed every 3 months thereafter; for the interest of the investor, no interest will be paid before the principal expires. Along with the principal, the principal is due 10% cashed in the current month, and 10% cashed every 3 months thereafter;
For the deferred principal, the deferred interest will be paid to the investor according to the benchmark one-year commercial loan interest rate of 4.35%. The deferred interest begins to accrue from the maturity date of Jinheng Wealth’s products and ceases to accrue after the final principal payment is completed. The deferred interest payment is 50% paid in the third month after the last principal and interest due, and the payment is completed in the sixth month;
On the 20th of each month, the principal, maturity and deferred interest of Jinheng Wealth’s products will be redeemed. Whether it is due on the 1st of the current month or the principal, due interest and deferred interest due on the 31st of the current month, all will be redeemed uniformly on the 20th of the current month;
According to the announcement, Kaisa is actively disposing of the group’s assets, and the funds withdrawn are used to redeem the principal of Jinheng Wealth, interest due and deferred interest. Kaisa expressed that it understands the opinions of investors on the redemption plan and has communicated with some investor representatives, and will gradually optimize the redemption plan according to the fundraising situation and in accordance with the principle of benefiting investors, including arranging early redemption.
Products that have expired in October and November 2021 have been redeemed today according to this redemption plan. Kaisa Group has the ability to provide investors with the follow-up payment of wealth products. At present, asset disposal, collateralization of collateralized assets, and mortgage transfer are all proceeding quickly and orderly.
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